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Politics

Middle class is "rich" to you? - TrickleDown

Posted: Dec 26th, 2017 - 1:58 am In Reply to: Since trickle down only works for the rich - it is obvious

Trickle down helps the middle class. Is that what you're calling "rich?"

"I showed you last week how income inequality rose to extremes in 1929 and then fell to its lowest point into 1975-1978. And how it has risen to extremes again, which is why it’s such a political hot potato right now.

It’s clear that technological innovations and other economic drivers trickle down to the average Joe. It’s just hard to see because it doesn’t happen quickly. It takes decades!

The top 10% peaked in 1928, taking home a whopping 49.3% of the income! The bottom 90% had to fight over the remaining 50.7%.

But, they began to gain modestly in the early 1930s, while that top 10% saw its share of income fall to 32.5% by 1944 (see why I warn that the economic winter season will hit the rich harder than Homer Simpson?).

Then they enjoyed a sharp rise in income, and the rise of a broad middle class, during World War II.

From there, they lived in a “golden era” into 1978, with income shares largely between 67% and 68%.

This happened thanks to trickle-down economics.

This rise of the middle class came on a long lag from the great innovations of the late 1800s into..."

https://investorplace.com/2016/05/trickle-down-economics-works-just-ask-the-middle-class/#.WkIArXlrz3g



LINK/URL: Middle class is "rich" to you?

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